This makes solar the largest source of new electricity generation for the third consecutive year, and the fastest-growing source of electricity generation for the 20th year in a row. The world added 29% more capacity in 2024 than in 2023, and met 40% of the global increase in electricity demand, more than any other single technology, as shown in the graph below.
The Ember report also shows that solar growth remains strong despite diminishing year-on-year capacity additions. The world’s solar sector saw total global generation increase from 100TWh to 1,000TWh over eight years, but the jump from 1,000TWh to 2,000TWh took just three years, as the world’s rate of solar generation has effectively doubled every three years.
In 2023, the world added 86% more new solar capacity than in 2022, but in 2024, the world added just 30% more capacity than in the previous year. While this is a slowdown in the rate of new capacity…
